April NYMEX Natural Gas Futures Contract Closed at $2.543 on Thursday, March 9th

Thursday, March 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.597, nearly five cents above Wednesday’s closing price of $2.551. Ascending to the intraday high of $2.639 by 10:00AM, prices moved sideways heading into the weekly storage publication. Pulling back as the report hit the wire, the contract withdrew to the intraday low of $2.465 ahead of 2:00PM. April closed slightly lower on Thursday at $2.543

The EIA Natural Gas Storage Report published on Thursday showed an 84 BCF withdrawal from storage for the week ended March 3 – in line with the market estimate of 82 BCF. Total working gas in storage was reported as 2,030 BCF; 32.1% above this time last year and 21.5% above the five-year average.

As of 7:15AM EST this morning in Globex, WTI Crude was down 73 cents; Natural Gas was down four cents; Heating Oil was down two cents; and Gasoline was down two cents.
                                  
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 

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This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.